Engagement Across the Company’s Social Platformshas Also Significantly Increased Since the Alpha Release of Pocket DimensionMetaverse Assets
Vancouver, British Columbia – December 5, 2022 / Cision / –Looking Glass Labs Ltd. (“LGL” or the “Company”) (NEO: NFTX) (AQSE: NFTX) (OTC:LGSLF) (FRA: H1N), a leading Web3platform specializing in non-fungible token (“NFT”) architecture, immersivemetaverse environments, play-to-earn tokenization and virtual asset royaltystreams, announces that it and its flagship studio, House of Kibaa (“HoK”),have received positive reviews regarding its November 2, 2022 release (the “AlphaRelease”) of its Pocket Dimension digital metaverse assets (the “PocketDimension”). Increased engagement on the Company’s Twitter platform andpositive reviews from users are a testament to the success of the Alpha Releasefor both LGL and HoK. The Company’s metaverse is continually being designed toprovide the highest resolution and most realistic experience technicallyavailable today.
The following statistics demonstrate that the Alpha Release of thePocket Dimension has increased users’ organic engagement and follower growth ofthe Company:
· An increase of 18% in Q4compared to Q3 in overall engagement of Twitter users with respect to HoK;
· An increase of 8% in thelast 28 days, and an increase of 148% in November, compared to October inTwitter likes of the Company’s content;
· An increase in Twitterreplies to HoK content by 140%;
· An increase in new DiscordTwitter members of 180% on a weekly basis since the start of the campaign,which started on October 18, 2022; and
· An increase in organicTwitter impressions by 7.5% in the last 28 days, and reaching 65% of allOctober impressions since November 1, 2022.
Positive user reviews regarding the Alpha Release of the PocketDimension have typically been received according to the following themes:
· The artistic andparadise-like environment of the metaverse;
· The quality of themetaverse; and
· The value of themetaverse compared to others.
The PocketDimension metaverse is a hyper-realistic digital world that is being built usingthe latest version of Unreal Engine in order to offer users a premium virtual experience.Each Pocket Dimension features one of eleven different environments includingArchipelago, Countryside, Dale, Dunes, Fjord, Marsh, Savanna, Tundra, Woodlandand Zen, as well as the aforementioned Genesis Moon environment exclusively forGenesis Membership holders. Each environment offers users various forms ofutility including but not limited to hosting events with their community,integrating custom structures and adding digital assets.
Pocket Dimension isa private space representing an area size of approximately four acres in which parcelsprovide their owners with additional unique benefits such as being blockchainagnostic with wide NFT compatibility (Polygon, Ethereum, etc.), an extensiveavatar system, a unique Non-Playable Characters host system and more.Landowners will also have access to the broader suite of utilities that HoKwill develop over time.
“As the metaverse and NFTs continue to see rapid growth, it isimportant for HoK to make Pocket Dimension accessible to users, which is whatwe aimed to do with the Alpha Release. The positive reviews that users have deliveredthus far are encouraging to our team at LGL, and we are thrilled that the AlphaRelease has resulted in satisfied users and increased engagement on theCompany’s Twitter platform,” said Dorian Banks, Chief Executive Officer at LGL.
ABOUT LOOKING GLASS LABS
Headquartered in Vancouver, British Columbia, Looking Glass Labs(“LGL”) is a Web3 platform specializing in non-fungible token (“NFT”)architecture, immersive metaverse environments, play-to-earn tokenization andvirtual asset royalty streams. Its leading brand, House of Kibaa (“HoK”),designs and curates a next generation metaverse for 3D assets, which allowsfunctional art and collectibles to exist simultaneously across different NFTblockchain environments. HoK has successfully released digital assets toinclude GenZeroes, which sold out in just 37 minutes for total proceeds to LGLof CAD 6.2 million, in addition to a perpetual 5% royalty stream on secondarymarket sales. HoK plans to launch a hyper-realistic metaverse built on thelatest version of Unreal Engine in 2022.
Toview LGL’s current investor presentation, please visit https://www.lgl.io/investors.
Tojoin LGL’s mailing list, please subscribe via the following link: https://www.lgl.io/contact-us.
On behalf of LOOKING GLASS LABS LTD.
Dorian Banks, Chief Executive Officer
For further information, please contact:
Toll-Free: +1 833 LGL-NFTX (833-545-6389)
This news release contains “forward-looking statements.”Statements in this news release that are not purely historical areforward-looking statements and include any statements regarding beliefs, plans,expectations, or intentions regarding the future. Such forward-lookingstatements include, among other things: the development of Pocket Dimension,the Company's goal to become the leading digital studio specializing in NFTarchitecture, immersive metaverse design and virtual asset display monetizationstreams; intention to build out a portfolio of perpetual NFT royalty streamsthrough collaborations, accretive acquisitions and other arrangements, topotentially result in consistent, de-risked and passive revenue; and thenear-term projects and future projects.
The material assumptions supporting these forward-lookingstatements include, among others, that: the Company could mitigate the risksassociated with the blockchain and NFT industry; the ability to compete withother businesses in the NFT market; the availability of sufficient funding tocarry out the Company's business development plans; favourable marketconditions; the ability of HoK to sell all or substantially all of its product offerings;the market acceptance for its products; and the ability to complete thedevelopment of Pocket Dimension in a timely manner.
Although management considers these assumptions to be reasonablebased on information currently available to it, they may prove to be incorrect.These forward-looking statements are only predictions and involve known andunknown risks, uncertainties and other factors, including: the continued growthand adoption of NFT and metaverse offerings by the consumer market; the cost ofdeveloping and designing NFTs and metaverses is economically viable; theCompany being able to attract and retain a sufficient workforce with desiredskillsets to develop the Company's NFT and metaverse offerings; theavailability of offerings provided by third-parties in the NFT, metaversedevelopment and online gaming market to identify potential transactions; theincreasing adoption of NFTs as a solution for various online gaming,entertainment and collectible uses; the Company having the ability to mitigatethe risks associated with the blockchain and NFT industry; and the ability tocompete with other businesses in the NFT, metaverse development, contentcreation and collectibles market.
Although management considers these assumptions to be reasonablebased on information currently available to it, they may prove to be incorrect.These forward-looking statements are only predictions and involve known andunknown risks, uncertainties and other factors, including: the risk that theCompany's offerings are not accepted by the consumer, the risk that othercompetitors may offer similar digital offerings; the risk that there may benegative changes in general economic and business conditions; the risk that theCompany may have negative operating cash flow and not enough capital tocomplete the development of any of its technologies; the risk that the Companymay not be able to obtain additional financing as necessary; the risk thatthere may be increases in capital and operating costs; the risk that the NFTtechnology may be subject to fraud and other failures; the risk that there maybe technological changes and developments in the blockchain that make the NFTsolutions obsolete; risks relating to regulatory changes or actions which mayimpede the development or operation of the blockchain solutions; the risk thatother competitors may release similar blockchain offerings; the potentialfuture unviability of the NFT market in general; the volatile cost of theamount of computational effort required to execute specific operations on theblockchain, and other general risks involved in the blockchain solutions.
Risks and uncertainties about the Company’s business are morefully discussed in the Company’s disclosure materials, including its reportsfiled with the Canadian securities regulators and which can be obtained from www.sedar.com.
Any of these risks may cause the Company’s actual results, levelsof activity, performance or achievements to be materially different from anyfuture results, levels of activity, performance or achievements expressed orimplied by these forward-looking statements. Further, although the Company hasattempted to identify factors that could cause actual results, levels ofactivity, performance or achievements to differ materially from those describedin forward-looking statements, there may be other factors that cause results,levels of activity, performance or achievements not to be as anticipated,estimated or intended. These forward-looking statements are made as of the dateof this news release, and the Company assumes no obligation to update theforward-looking statements, or to update the reasons why actual results coulddiffer from those projected in the forward-looking statements, except asrequired by applicable law, including the securities laws of the United Statesand Canada. Although the Company believes that any beliefs, plans, expectationsand intentions contained in this news release are reasonable, there can be noassurance that any such beliefs, plans, expectations or intentions will proveto be accurate. The Company does not assume any liability for disclosurerelating to any other company mentioned herein.
SOURCE:LOOKING GLASS LABS LTD.